ADVISORY OPINION 11 (AO-11)

This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems.

SUBJECT: Content of the Appraisal Report Options of Standards Rules 2-2 and 8-2(note1)

APPLICATION: Real Property, Personal Property

THE ISSUE:

Standards Rules 2-2 and 8-2 of the Uniform Standards of Professional Appraisal Practice (USPAP) offer three written appraisal report options. What information should be contained in each type of report?

ADVICE FROM THE ASB ON THE ISSUE:

Relevant USPAP & Advisory References

Prominent Statement of Option Used

Content of the Self-Contained Appraisal Report

Content of the Summary Appraisal Report

Content of the Restricted Use Appraisal Report

Differences in the Appraisal Report Options

EXAMPLE OF "DESCRIBE"

EXAMPLE OF "SUMMARIZE"

EXAMPLE OF "STATE"

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